Weekly gain/loss: - 89 pips
Weekly closing price: 1.2482
Weekly view: Following the selloff from just ahead of resistance seen at 1.2789 two weeks back, the pair, bolstered by the Fed’s decision to hike rates, continued to slide lower last week. Since July 2014, this market has been entrenched within a downward trajectory. Providing that the current resistance...
Weekly gain/loss: - 103 pips
Weekly closing price: 1.0451
Weekly view: Motivated by the Fed’s decision to increase the benchmark interest rate 25 bps on Wednesday, the shared currency sustained further losses last week. This, as you can see, drove the pair deeper into a major support area chiseled in at 1.0333-1.0502, which can be seen stretching as far back as...
Further selling was seen in the gold market during the course of yesterday’s sessions, on the back of continued dollar strength. In consequence to this, the daily candles are now seen trading within shouting distance of demand coming in at 1108.2-1117.8. Despite this, up on the weekly chart, the unit shows room to continue past the above said daily demand to a...
Following yesterday’s retest to the underside of the 1.27 handle, the pair underwent a stern downside correction. The move was reinforced by the FOMC raising its Fed funds target rate 25bps to 0.75%. The 1.26 handle, as well as the H4 mid-way support barrier at 1.2550 were both taken out, leaving price free to touch gloves with the top edge of our pre-determined...
As anticipated, the FOMC decided to hike its target rate by 25bps yesterday. In consequence to this, the dollar advanced across the board and sent the shared currency aggressively lower. A number of H4 tech supports were engulfed during this bearish assault, with price concluding the day filling bids around the 1.05 handle.
To our way of seeing things, there are...
Underpinned by a better-than-expected UK inflation print, yesterday’s action saw the GBP squeeze shorts out from the 1.27 boundary as well as fill breakout buyers’ orders. Be that as it may, the pair failed to push much past this region, reaching highs of only 1.2727 before collapsing to lows of 1.2653 throughout the course of the US session. In view of price...
Across the board, we saw the US dollar fade from highs of 101.78 on Monday (see the US dollar index), consequently sending the shared currency over 100 pips north. Leaving the H4 Quasimodo support at 1.0518 unchallenged, several H4 resistances were consumed during yesterday’s bullish assault. The major ended the day claiming the H4 supply area at 1.0629-1.0616...
Weekly gain/loss: - 96 pips
Weekly closing price: 1.3169
Weekly view: Following a decisive close below support at 1.3381 two weeks back, the sellers extended this decline last week in the shape of a near-full-bodied bearish candle. To our way of seeing things, weekly price action below here looks relatively cramped. The only level that really catches our eye...
Weekly gain/loss: - 150 pips
Weekly closing price: 1.2571
Weekly view: The move north seen from support at 1.1904 is, at least in our view, seen as a correctional one so far rather than a trend change. The next upside objective can be seen at 1.2938: a resistance level, which is where we ultimately expect the bears to make their presence known.
Daily view:...
Weekly gain/loss: - 104 pips
Weekly closing price: 1.0554
Weekly view: The past week saw the shared currency range over 350 pips. Amid this volatility, the candle whipsawed through a long-term trendline resistance extended from the low 0.8231, a resistance at 1.0819 and ultimately struck the 2016 yearly opening level at 1.0873 to the pip. This barrier, with the...
After price shook hands with the 1.27 handle during the early hours of yesterday’s London segment, a durable wave of offers swamped the market. Stimulated by the US dollar index gathering momentum, as well as the ECB announcing that it will be reducing the quantity of QE, but prolonging the program till Dec 2017, cable wiped out the 1.26 level and touched gloves...
The EUR, as you can see, stamped in a rather savage-looking selling wick ahead of yesterday’s ECB press conference, surpassing both the 1.08 handle and a nearby H4 resistance at 1.0830, with the unit managing to clock highs of 1.0873. Following the ECB’s decision to extend the QE program till Dec 2017, but at a gentler pace, this sent the single currency screaming...
The commodity currency fell sharply in early trading yesterday on the back of disappointing Q3 GDP data. Despite this, the downside move was a short-lived one! After a few hours basing around lows of 0.7417 during Asia, the pair reversed the majority of the morning’s losses amid the London morning segment and went on to punch higher as US traders entered the fray....
Recent action shows that the EUR/USD extended its bounce from the 1.07 neighborhood, consequently placing the H4 candles just ahead of a H4 Quasimodo resistance level at 1.0771. The move was reinforced by daily support coming in at 1.0710, which has remained a noteworthy level since 1998! Technically speaking, however, we do not imagine price progressing much past...
During the course of yesterday’s sessions, the single currency tumbled lower from the H4 Quasimodo resistance level at 1.0771, and nudged into the 1.07 boundary going into the later hours of the US segment. The selloff, as far as we can see, was bolstered by a long-term weekly trendline resistance extended from the low 0.8231, and shows that the weekly candles...
The single currency, as you can see, fell sharply in early trading on news of Italian Prime Minister Matteo Renzi’s resignation amid yesterday’s constitutional referendum. The pair managed to clock lows of 1.0504 before switching tracks and rallying just as sharply against its US counterpart. Several resistances were wiped out during this bullish assault, which...
Weekly gain/loss: - 228 pips
Weekly closing price: 1.3285
Weekly opening price: 1.3282
Weekly view: Despite a beautiful-looking buying tail printed off, what was at the time, support at 1.3381, the market collapsed last week, taking out this level and thus forming a resistance. To our way of seeing things, weekly price action below here looks relatively cramped....
Weekly gain/loss: + 14 pips
Weekly closing price: 0.7452
Weekly opening price: 0.7450
Weekly view: Aussie prices were little changed by the week’s close with a mere 14-pip gain recorded! As a result, an indecision candle was chalked in, which, as you can see, is positioned around the top edge of a support area logged at 0.7438-0.7315. A continuation move higher...
